Skip to main content
Level 1
March 9, 2024
Question

How to allocate income and expenses by percentage across multiple states in 1120S?

  • March 9, 2024
  • 1 reply
  • 8 views

My client has income from both Washington State and Idaho. How do I allocate between the two states to show properly on the K-1? They reside in Washington but it's a construction company that does business in both states, so I don't want the Washington sales showing up on the Idaho K-1.

    This topic has been closed for replies.

    1 reply

    George4Tacks
    Level 15
    March 9, 2024

    This link is for 1040, but the concept is the same = Use Ctrl + E to open a screen to split the income (expense) between the states. 

    https://accountants.intuit.com/support/en-us/help-article/form-1040/allocate-amounts-multi-state-individual-return/L2oI1HNmM_US_en_US?uid=ltk5s4l7

    Answers are easy. Questions are hard!
    sjrcpa
    Level 15
    March 9, 2024

    You probably have to use Apportionment, not Allocation.

    The more I know the more I don’t know.